South Daytona, FL Cost of Living

South Daytona cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

The above illustration supplies generalized information for the South Daytona, FL cost of living index. Compared to other cities in Florida and cities across the country, the cost of living index in South Daytona, FL is 90, which is 9% lower than the Florida average and 10% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in South Daytona, FL are 2% higher than the average for Florida and 1% higher than the rest of the country.

Did you know?

The cost of living in South Daytona is 9% lower than the Florida average.

The cost of living in South Daytona is 10% lower than the national average.

The cost of housing in South Daytona is 30% lower than the national average.

Florida general sales tax is 18% higher than the national average.

Florida state income tax is 100% lower than the national average.

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Compare South Daytona, FL Cost of living To Other Cities

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Use the salary calculator to compare your current salary in South Daytona, FL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in South Daytona, FL, then you would need to earn more income in order to maintain the same standard of living. To use the South Daytona, FL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$42,920

$3,577

$1,001

$1,288

Renters

$21,488

$1,791

$501

$645

The affordability of the housing market in South Daytona, FL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among South Daytona, FL homeowners, the median income is $42,920. This indicates that a monthly maximum of $1,001 should be spent by homeowners on all housing related costs. Renters have a median income of $21,488. This indicates that renters should have a maximum of $501 used for their rent related monthly costs.

Florida Sales Tax

State

General Sales Tax

With Max Surtax

Florida

6%

7.5%

Florida Income Tax

State

Income Tax (Low)

Income Tax (High)

Florida

0%

0%

The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in South Daytona, FL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Florida sales tax is 6% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

Item

South Daytona

National avg.

Difference

Haircut

$10.31

$15.56

33.8%

Beauty Salon

$32.25

$36.11

10.7%

Toothpaste

$2.13

$2.47

13.9%

Shampoo

$0.95

$0.96

1.6%

Movie

$10.29

$10.13

1.6%

Bowling

$3.95

$4.74

16.6%

Groceries

Item

South Daytona

National avg.

Difference

Ground Beef

$4.58

$3.98

14.9%

Fried Chicken

$1.38

$1.41

2.0%

Milk

$2.24

$2.06

8.4%

Potatoes

$3.19

$2.98

6.8%

Pizza

$9.16

$9.47

3.3%

Beer

$9.09

$8.79

3.3%

Health Care

Item

South Daytona

National avg.

Difference

Optometrist

$72.07

$101.04

28.7%

Doctor

$105.29

$107.44

2.0%

Dentist

$86.78

$90.42

4.0%

Ibuprofen

$8.95

$9.28

3.5%

Lipitor

$444.06

$426.50

4.1%

Housing

Item

South Daytona

National avg.

Difference

Home Price

$111,000.00

$175,700.00

36.8%

Avg. Mortgage Payment

$897.34

$1,133.23

20.8%

Apartment Rent

$802.00

$920.00

12.8%

Transportation

Item

South Daytona

National avg.

Difference

Gasoline

$2.05

$1.99

3.1%

Tire Balancing

$43.55

$45.76

4.8%

Utilities

Item

South Daytona

National avg.

Difference

All Electricity

$141.91

$163.81

13.4%

Phone

$28.98

$28.39

2.1%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

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